Decorating your home, buying gifts and making elaborate holiday meals are just a few of the things that make the holiday season so special year after year. Holiday fun is a great escape from the doldrums of everyday life, but all that fun and diversion can get pricey. Instead of spending on the holidays and worrying about the debt later, we recommend following some planning guidelines. Your holiday season doesn’t have to be totally debt-free, but these tips will help you spend what you can afford to pay back.

Setting goals is often easier said than done, especially when finances are involved. We would all like to make more money, pay off debt, start investing or make a big purchase. However, knowing how exactly to bring those wishes to life can be tricky.

Filing for bankruptcy is an important decision that is usually made under stressful circumstances. If you are overwhelmed by your debt, default is a legal process that could relieve you of your financial burdens. In the short term, filing for bankruptcy could stop a foreclosure or car repossession, protect your wages from garnishment, or keep your utilities from being turned off.